News & Analysis as of

Venture Capital Reporting Requirements

Wilson Sonsini Goodrich & Rosati

REMINDER: New Schedule 13G Filing Deadlines

In October 2023, the U.S. Securities and Exchange Commission (SEC) approved final rules amending the beneficial ownership reporting requirements under Sections 13(d) and 13(g) of the Securities Exchange Act of 1934 (Exchange...more

Goodwin

State of the Climate Tech Market

Goodwin on

As the summer break draws to a close and we reflect on the past few months, we must mention the 2024 Summer Olympics and Paralympics in Paris. As well as being an exceptional display of athletic performance and inclusion, it...more

Allen Matkins

California Doubles Down On Problematic Venture Capital Reporting Law

Allen Matkins on

Given the importance of venture capital to California's economy, one might expect that state lawmakers would be keen to nurture the industry rather than enact laws that encourage venture capital companies to avoid the Golden...more

Allen Matkins

Why Is The DFPI Requesting Funding To Implement Venture Capital Funding Reporting Mandate?

Allen Matkins on

Last year, the California legislature enacted a bill, SB 54 (Skinner), that requires a "a venture capital" company to report annually to the Civil Rights Department on its funding determinations related to companies primarily...more

A&O Shearman

National Security Division Announces New Self-Disclosure Policy in M&A Transactions

A&O Shearman on

The National Security Division (NSD) of the Department of Justice announced a new self-disclosure policy on March 7, 2024 (M&A Policy) that impacts corporations, private equity firms, and venture capital firms and their...more

Akin Gump Strauss Hauer & Feld LLP

The Road Ahead for Private Equity: Reflections and Predictions

The year 2023 will be remembered as a challenging one for private equity (PE), with complexities to navigate on many fronts. Traditional debt financing was expensive and scarce, expectations on valuations were tricky to...more

ArentFox Schiff

Emerging Businesses and Venture Capital in 2024: 10 Hot Topics for Founders, Investors, and Executives of Emerging Companies

ArentFox Schiff on

2023 was a pivotal year for the emerging companies, creating new categories of winners and losers across the board. Emerging companies incorporating artificial intelligence or that have clear line of sight to positive cash...more

Keating Muething & Klekamp PLL

New Diversity Reporting Law for Venture Capital Companies with a Nexus to California

On October 8, 2023, California Governor Gavin Newsom signed Senate Bill 54 (“SB 54”) into law, which attempts to increase diversity, equity, and inclusion amongst venture capital (“VC”) investments. The law is the first...more

The Rodman Law Group, LLC

The Corporate Transparency Act Reporting Exemptions

The Corporate Transparency Act mandates certain reporting requirements for beneficial ownership information for certain companies, with the goal of preventing the illicit use of anonymous shell companies for financial crimes....more

DarrowEverett LLP

Venture Capital Firms Face New Reporting Requirement With California Law

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Over three and a half years since the death of George Floyd spurred some members of the venture capital community to enact promises to increase their investments in diverse entrepreneurs, California has enacted legislation in...more

Farrell Fritz, P.C.

Corporate Transparency Act Risks for Startups and Venture-Backed Companies

Farrell Fritz, P.C. on

Starting January 1, 2024, virtually all private companies will be required to report information about their beneficial owners to the Treasury Department’s Financial Crimes Enforcement Network “FinCEN”) under the Corporate...more

Dechert LLP

Sweeping Law for DEI Transparency of Private Funds with a California Nexus

Dechert LLP on

California continues its initiatives to increase workplace diversity through a new law that will require certain funds with a nexus to California to report DEI information about the founding teams of their portfolio...more

Mintz - Employment Viewpoints

New Year, New Laws: California Employment Law Updates for 2024

California employers need to be prepared for new laws that become effective starting in the new year. Below is a brief overview of those laws (including the collection of diversity for venture capital companies, an amendment...more

Skadden, Arps, Slate, Meagher & Flom LLP

Employment Flash - November 2023

...NLRB Issues Final Rule on ‘Joint Employer’ Standard On - October 26, 2023, the National Labor Relations Board (NLRB) issued a final rule titled “Standard for Determining Joint Employer Status,” which rescinds and...more

Perkins Coie

SB 54 Increases Transparency in California’s Venture Capital Industry

Perkins Coie on

California Governor Gavin Newsom signed Senate Bill 54 (SB 54) into law on October 8, 2023, to take effect March 1, 2025, for all investments made during calendar year 2024. The law will require “covered entities” to report...more

Morrison & Foerster LLP

Key Highlights from California’s New Diversity Reporting Law

Morrison & Foerster LLP on

On October 8, 2023, California Governor Gavin Newsom signed into law Senate Bill 54[1] (the “Diversity Reporting Law”). The Diversity Reporting Law is intentionally broad in its scope and is intended to help highlight and...more

Latham & Watkins LLP

California’s New VC Diversity Reporting Law Aims to Increase Transparency

Latham & Watkins LLP on

Venture capital firms should begin planning now for compliance to avoid monetary penalties or court action. California Governor Gavin Newsom signed Senate Bill No. 54 (SB 54) into law on October 8, 2023. The bill is...more

Bass, Berry & Sims PLC

The Federal Corporate Transparency Act Through the Lens of Private Equity: Unique Challenges Await

Bass, Berry & Sims PLC on

With a stated goal of enhancing transparency of business ownership, the federal Corporate Transparency Act (CTA) mandates various types of businesses – such as corporations, limited liability companies, and limited...more

Perkins Coie

2023 California Labor, Employment, and Independent Contractor Legislative Update

Perkins Coie on

With the 2023 California legislative year closed, it is once again time to summarize the new legislation that will affect businesses operating within the state and highlight relevant action items related to these bills. Below...more

Littler

California to Require Venture Capital Firms to Report Demographic Information

Littler on

On October 8, 2023, California Governor Gavin Newsom signed Senate Bill 54 (SB 54), Fair Investment Practices by Investment Advisers, which requires venture capital firms to collect and report data on the demographic...more

Allen Matkins

California's Inept Attempt To Define Who Is A "Founding Team Member"

Allen Matkins on

Last week, I reported that Governor Newsom had signed SB 54 (Skinner) even while acknowledging in his signing message that it contained "problematic provisions".   SB 54 requires "venture capital companies", as defined, to...more

Cooley LLP

California Adopts New Law Requiring VC Companies to Collect Diversity Data From Portfolio Company Founders

Cooley LLP on

California’s governor recently signed into law SB 54, a bill intended to increase transparency regarding diversity of founding teams in the venture capital (VC) industry. The new law will require VC companies, including...more

Pillsbury Winthrop Shaw Pittman LLP

California Bill Designed to Support Underrepresented Entrepreneurs Signed into Law

The bill requires certain venture capital companies to report demographic information about the founding team members of businesses in which they invested in the prior year. A “covered entity” must gather certain...more

Wilson Sonsini Goodrich & Rosati

California Governor Gavin Newsom Signs ESG Disclosure Bills

In the past few days, California Governor Gavin Newsom signed three bills that will require companies and investors to provide new disclosure. Climate Disclosure - On October 7, 2023, Governor Newsom signed Senate Bill...more

Foley & Lardner LLP

California Governor Gavin Newsom Signs Bill Requiring Venture Capitalists to Report on the Diversity of the Businesses They Invest...

Foley & Lardner LLP on

California Governor Gavin Newsom (D) has signed a bill that mandates venture capitalists to report the diversity of the founding members of businesses they invest in, making the first state to require venture capital firms to...more

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